How to register a business name in Montana as a Corporation?
Meaning of Montana Corporation
A form of business entity, have separate legal entity status from its owner in the eye of law. Owners can transfer shares easily and the liability of share holders is limited to the extent of price paid by them.
Types of Montana Corporation
- General for Profit Corporation
- Benefit for Profit Corporation
- Professional Corporation
- Close Corporation which will operate with directors or without directors
- Professional Close Corporation which will operate with directors or without directors
Corporation registration authority in Montana
Business Service Division of Montana State is the regulating and registering authority of any type of business and other regulatory services attached with business such as preliminary name search, name reservation and incorporation of business etc.
Time required to incorporate in Montana
Normally the Business Service Division of Montana State takes 3-5 business days to incorporate a corporation. Montana State has not yet any online facility to incorporate. You have to file paper format.
Items required filing article of incorporation to register a corporation in Montana
- Name selection and check availability (corporation name must contain the word “corporation,” “incorporated,” “company,” or “limited,” or an abbreviation of these words. And it must not identical with any already registered name with the Montana State.
- Check Availability of name (you can check name availability at the official website of Montana state free of cost)
- Name reservation (upon availability of proposed name you may reserve it by filling name reservation form with the Business Service Division of Montana State for 120 days)
- Registered Agent ( a person who will receive service of process and any other legal correspondence on behalf of the corporation you may select commercial or Noncommercial registered agent)
- Authorized share capital (in Montana you can choose any number of shares as authorized share capital except zero with no par value only)
- Incorporator (the person or group persons forming the corporation are called incorporators. You have to provide name, address and signature of all incorporators in articles of incorporations and at least one incorporate is required to form a corporation in Montana)
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Contact details (you have to provide one phone number and email ID only for day time contact)
Adopt bylaws for Montana Corporation
Bylaws are written statements of internal policies and procedure for the Montana Corporation. Bylaws are not statuary requirement but you have to prepare and adopt bylaws to cover the internal structure and operation of the Montana Corporation.
Other legal requirements for the corporation in Montana
- For Federal Taxpayer identification number (contact Internal revenue service IRS for EIN)
- For licensing in Montana visit https://revenue.mt.gov/licenses
- For state taxation (contact Montana Department of Revenue)
- For worker compensation (contact Montana department of labor & Industry)
Montana Certificate of existence/Good Standing
Montana Certificate of existence may also refer as certificate of good standing or certificate of authorization. This certificate implies that the corporation is complying with all States' law and has active good standing status. You have to apply via online or physical form along with he assigned fee.
Montana Certificate of fact
This certificate certify not only the good standing status with the Montana state but also certify other specific information such as name changes, amendments, officers and directors of Corporations, owners of Assumed Business Names, etc.
Montana Annual Report
You can file annual report of the corporation via online or paper form along with the prescribed fee. The first annual report for corporation will due after two year and then every year.
Montana Conversion into S corporation for tax purpose
You may elect with internal revenue service (IRS) for alternate tax structure by filling 2253 form.
Assumed name for Montana Corporation
Assumed name may call trade name or doing business as or DBA. Every corporation may adopt many assumed names for its operation after checking the availability. For every assumed name you have to reserve by paying the designated fee in prescribed manner.
Reinstate of Montana Corporation
You have to avail certificate of reinstatement from Department of revenue of Montana State to activate suspended or dissolved corporation.
Dissolve a corporation in Montana
You have to avail tax clearance certificate from the department of revenue to dissolve a Montana corporation.
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